State Employees' Credit Union is committed to protecting member
deposits. As a result, the following methods have been implemented:
Methods
Property insurance guards against fire and theft
Annual reserves for additional protection
SECU subject to audits by 4 sources: Credit Union Division of the NC Department
of Commerce, Internal Audit, an outside CPA auditing firm and the National
Credit Union Administration
The National Credit Union Administration (NCUA) is an independent United States
government agency that insures the deposits of credit union members nationwide.
Managed by the National Credit Union Administration Board, NCUA examines,
supervises and insures both federally-chartered and qualifying state-chartered
credit unions. Also managed by the NCUA Board, the National Credit Union Share
Insurance Fund (NCUSIF) is a component of NCUA and was established by Congress
on October 19, 1970 to insure member accounts.
Features
Up to $100,000 basic insured amount
Includes funds in share, checking, money market share and share term
certificate accounts
IRAs insured separately up to $250,000
Health Savings Accounts are insured separately up to $100,000
No charge for share insurance protection
Individual accounts with same accountholder totaled and insured up to $100,000
Joint accounts insured separately from individual accounts up to $100,000
For complete details, please review the
State Employees' Credit Union
brochure. Questions regarding NCUA insurance can be directed to a local branch
or submitted in writing through Secure Message in Member Access.
